Needing care: Industry revenue will continue to grow as the population ages

Prior to 2013, the Hospices and Palliative Care Centers industry grew rapidly for more than a decade, aided by government funding, an aging US population, rising healthcare costs and a general shift toward at-home end-of-life care. The industry continued growing straight through the economic downturn as relevant funding and the number of facilities offering hospice and palliative services grew. However, government funding for industry services has come under intense scrutiny in recent years. Hospice and home healthcare organizations are aggressively lobbying Congress to reconsider or revoke these reductions. Sources of industry demand will likely continue to escalate as the population ages and the popularity of home healthcare grows...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Hospice care revenue is expected to rise, despite uncertainty surrounding reimbursement rates
  • Many people started using hospice as hospital stays and nursing homes became more expensive
  • Industry demand will likely escalate alongside the elderly proportion of the population
  • Industry Report - Industry Products Chapter

    Private residence, nursing home and residential facility careMost hospice patients receive palliative care in their own place of residence, such as a private home, a nursing home or a residential care facility. Patients who do not need the full-time support of a hospice or hospital facility rely on this level of care, which involves sending nurses and home aides to the patient's home, which is equipped with the necessary medical supplies and medications. Residential care patients also have access to a physician and counseling services. If residential patients' health conditions become more serious, they may opt for continuous home care. Pat...purchase to read more.

    Additional Insights for the Hospices & Palliative Care Centers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hospices & Palliative Care Centers Industry are

  • Ability to take advantage of government subsidies and other grants
  • Ability to attract local support and frequent referrals
  • Recommendation/accreditation from authoritative sources
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Number of adults aged 65 and older in the Hospices & Palliative Care Centers industry impact industry performance..

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    What's in this report

    What is the Hospices & Palliative Care Centers Industry?

    This industry provides programs that offer symptom relief and pain management for patients with life-terminating illnesses. Hospice care applies to companies that administer care (in terms of comfort rather than cure) to patients with life-limiting illnesses or diseases. Nonhospice palliative care is provided to individuals with serious, complex illnesses who may or may not be expected to recover fully; this segment is excluded from this industry.

    Industry Products
  • Private residence care
  • Hospice inpatient care
  • Hospital inpatient care
  • Nursing home and residential facility care
  • Industry Activities
  • Providing continuous home care
  • Providing general inpatient care
  • Providing routine home care
  • Providing inpatient respite care
  • Providing hospice and palliative care
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Number of adults aged 65 and older
  • Number of people with private health insurance
  • Per capita disposable income

  • Current Performance
  • Hospice and Medicare
  • Growing demand
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand stays strong
  • Funding woes
  • Table: Hospices & Palliative Care Centers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hospices & Palliative Care Centers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Life Insurance & Annuities
  • Health & Medical Insurance
  • Primary Care Doctors
  • Hospitals
  • Nursing Care Facilities

  • Key Selling Industries
  • Brand Name Pharmaceutical Manufacturing
  • Employment & Recruiting Agencies
  • Generic Pharmaceutical Manufacturing
  • Medical Instrument & Supply Manufacturing
  • Medical Supplies Wholesaling

  • Products & Services
  • Private residence care
  • Hospice inpatient care
  • Nursing home and residential facility care
  • Hospital inpatient care
  • Chart: Hospices & Palliative Care Centers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Over 85 years
  • 75 to 84
  • 65 to 74
  • 35 to 64
  • Less than 24 years
  • 25 to 34 years
  • Chart: Major Market Segmentation for the Hospices & Palliative Care Centers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Hospices & Palliative Care Centers

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hospices & Palliative Care Centers Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Hospices & Palliative Care Centers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Hospices & Palliative Care Centers Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Federal funding for Medicare and Medicaid (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • Hospice provides medical care, pain management and emotional and spiritual support for patients with a life-limiting illness and their family and loved ones.
  • Medicare
  • Medicare provides health insurance coverage for adults over the age of 65, for the disabled and for those who have kidney failure and require dialysis.
  • Palliative Care
  • Palliative care extends hospice care to incorporate patients earlier in their illness; it addresses physical, emotional, social and spiritual pain.
  • What Our Customers Say

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    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
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    The Hospices & Palliative Care Centers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

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